Steel Asia expansion to boost employment

A substantial number of jobs is expected to be created as Steel Asia Manufacturing Corp. continues to expand capacity amid growing construction sector demand, the Trade department said.

“With the expansion of Steel Asia, jobs in the steel industry are expected to double from the present 10,500 personnel to around 21,000. Job multipliers in support industries will also result in creating 52,500 more jobs, doubling the support industries job output to around 126,000,” Steel Asia President Benjamin Yao was quoted as saying in a statement.

“Once the HBIS (Hebei Iron and Steel Group) integrated steel facility becomes operational along with the revival of the flat segment, steel industry jobs and its related industries could also potentially double up to 300,000 personnel,” he added.

The steel manufacturer has an ongoing five-year P105-billion expansion program, P66 billion of which is registered with the Board of Investments.